In a saucepan, heat the sugar, milk, butter and oil. Once warm, remove from heat and whisk in beaten eggs.
Add yeast and lightly mix. Cover bowl and allow to sit for 3-5 minutes until yeast activates.
Add in sifted flour and mix until flour is well incorporated. Cover and set aside to rise at room temperature for 1 hour.
In a bowl, beat cream cheese and sugar.
NOTE: Be sure to roll out and shape the dough on parchment paper for easier transferring. Generously dust parchment paper with flour, add the dough. Add more flour to the top of the dough.
Gently roll out the dough into a rectangle about 16x12” in size, adding more flour as needed so the dough doesn't stick to the rolling pin. The dough will be slightly sticky.
Generously add the jam and cream cheese in rows, see picture.
Gently roll up the dough to form a log and place seam underneath.
Pinch edges of log and tuck under so the filling doesn't ooze out.
Transfer bread with parchment paper to the baking sheet. With kitchen shears, cut bread on both sides, see the picture. Twist the pieces that are cut. Whisk together egg and water, brush tops of bread.
Allow bread to rise 30 minutes.
Preheat oven to 375°F. Bake for 17-19 minutes, until the top of the bread is golden.